People relocating due to WFH, are you not worried about going back to office in a year? Real Estate |
- People relocating due to WFH, are you not worried about going back to office in a year?
- Sovereign citizens attempting to claim listed homes
- Bought a house through my realtor friend, home loan got sold, home insurance canceled shortly after. Lots of things wrong with the house.
- PMI doubled, is that normal?
- Is it better to buy when prices are low, higher rates or prices high, low rates ?
- What are real estate agents actually supposed to do?
- Which offer would you take
- How do I get a generic pre-approval letter that I can send to sellers so they know I'm serious.
- How to thank your realtor?
- If you (buyer) ask for 10k from the seller towards closing costs, and closing ends up only being 7.5k...
- Is there a website that groups all the real estate agencies ranked by City or Town ? (NY)
- Is the housing market so insane right now because of the low interest rates?
- Should Friends buy a House Together?
- Landlord as a tenant lease contract help
- California - neighbor
- First time buyer - vacation home
- Loan question
- Repairs and remodeling prior to home sale
- Getting cold feet....Can I still back out?
- Need advice on selling mother's home
- [California] Listing Contract
- [California] Listing Contract
- Question about qualifying income on a Schedule C
| People relocating due to WFH, are you not worried about going back to office in a year? Posted: 28 Nov 2020 11:00 PM PST I am hearing about people who are buying home far away from their work, including moving out of state due to COVID initiated working from home. Are these people not worried about having to show up at work in a year or two from now? I can understand moving from downtown to a suburb an hour out. That is still with in reasonable commute time. But those who moved out of state or further out Are you not worried about having to go back to work at all? foreseeable future? Especially with vaccines - Will you quit your job when/if they call you back - Are you worried about having to sell your house because you brought something that doesn't work for you post-COVID - am I just being too optimistic thinking COVID will end by 2022 & life will be back to normal [link] [comments]  |
| Sovereign citizens attempting to claim listed homes Posted: 28 Nov 2020 09:16 AM PST I guess another good reason to make sure potential buyers are pre-approved, and, not let anyone unaccompanied into a listed house. It would make me nervous to even list a vacant house (or even leave a house vacant at all). [link] [comments]  |
| Posted: 29 Nov 2020 01:19 AM PST I deleted the first post since I was pretty embarrassed from it all but I tried to get a cached version of it here for anyone out of the loop: My insurance broker had called me the other day telling me that my current home insurance can no longer cover me. They said the roof isn't in great shape despite my realtor telling me it was replaced back in 2009, but after talking to my neighbor, she said that roof was never replaced (or at least she never saw it replaced since she's lived there) My realtor had said the inspection had gone good, and that the house was well kept. The inspection though said the gas lines were missing some components. Sediment traps, the inspector noted all that. he even said "Under current construction standards, they're required". He also said a few other things were required due to "Safety standards" and should be installed also. Oh and possible damage to the foundation due to roots. So I'm surprised why my realtor was trying to get maybe one major thing repaired (a few shingles on the roof) and the rest was petty things like screen windows. She said if we go easy on the inspection and on the things we ask repaired, they might throw the fridge in for free. I told her to do what she thinks was best which was a stupid mistake. Also, how did this get past that VA appraiser as well? I'm not trying to point fingers. I blame myself for not being more cautious. I just figured I was in good hands with my realtor friend who I've known for a long time. I told her I wanted to start fresh, in a quiet area and a place that I can just focus on my mental health. She told me I was being too negative when I spotted a house that was close to a school. I just briefly pointed out that a school nearby could mean lot's of traffic and loud noises. The funny thing is that the house I'm currently living in is a block away from the main street so I'm constantly hearing sirens, and road noise and people revving up their engines, it can get a bit overwhelming. This was her response when I had brought up that maybe I should find a realtor that's closer. And when I had thought about backing out (we weren't going to close on time and the sellers got upset), my realtor said "You're not going to back out, we worked too hard for this, you worked too hard for this" (I have this in a voice message) I guess that's it. I'll probably file a complaint like some of you recommended I do, and write a review on her. Hopefully others can learn from my fuck ups. [link] [comments]  |
| Posted: 28 Nov 2020 08:12 AM PST Hello everyone, first time home buyer here. I have to admit that I am one of those people who doesn't know much about finance related matters and that includes PMI. My lender (Freedom Mortgage) told be that my PMI was gonna be $17.xx when I refinanced with them, that was at the beginning of this year. Last couple of months I have been finding weird things on my statements. Sometimes I see that they charged me the actual PMI amount and then refunded me. Then they didn't charge me PMI for 2-3 months and since October 2020 they started charging me $37.68. I called and asked and no one can say what is going on, they did tell me that they were going to get back to me soon. Is this normal? I understand that sometimes due to tax changes the escrow needs to get readjusted, but not PMI right? I would really appreciate some input. [link] [comments]  |
| Is it better to buy when prices are low, higher rates or prices high, low rates ? Posted: 29 Nov 2020 04:10 AM PST The current prices in my state (NH) are beyond what they were the past 2 years. I'm sure you all know how it is almost everywhere.. everyone is overbidding by A LOT and then waiving everything. Low rates and pandemic bringing in the competition.. BUT Wouldn't it be better to buy when the rates go up and prices go down ? Because otherwise buying high you are leaving yourself open to being underwater? Also PMI, same thing. It's so low right now, but I have heard of people being unable to get rid of it because of the same issue (being underwater). Personally, we saved 20% and then COVID hit and with the craziness we can't even seem to afford anything anymore that doesn't need a shit ton of work. Back to saving. Ugh. [link] [comments]  |
| What are real estate agents actually supposed to do? Posted: 28 Nov 2020 02:09 PM PST South Florida area. I got my pre approval. Dealt with two agents. One agent recommended by the credit union and another recommended by my current landlord. I spent about half and hour talking to them explaining what I am looking for. I sent them properties that I liked that aren't available so they Could see what I liked and my style. Neither of them have recommended shit to me. Both of them expect me to get on mls or another website and send them properties that I like and they would set up an appointment to see. One of them actually set up an appointment at house I saw and when we were there she said "I've been here before, you won't like it" then why did you not say that before and make me drive out here? I did find a perfect home. But by time the agent bothered to set up an appointment they accepted an offer. As soon as I saw it I was ready to put an offer in. It was up for a while and neither of them sent it to. Like I said they have sent me a total of 0 listings. If they sent it to me and showed it to me I would have bought it. But it was up to me to find it. Then I sat around waiting for them to make an appointment to see it. For their half of a nearly $60k commission what the fuck are they doing? Is it unreasonable that they actually recommend a single house to me? I run 3 businesses. But I am spending hours every day watching the websites. Isn't that their job? I just sold my last property and neither me or the buyer had an agent. All they would have done is cost me 6%. Even when I was ready to do an inspection on one the agent sent me multiple numbers for inspectors and told me to call them and schedule it. The only thing they have done so far is call to set up appointments to houses including ones they know I won't like. I can have my secretary do that. Am I missing something here? Am I being unreasonable? [link] [comments]  |
| Posted: 29 Nov 2020 03:01 AM PST Assume the sale price on both is similar : 1) buyer is local w/ well known agent representing them...conventional w/ 5% down through a local mortgage broker. It appears the offer is absolutely the top of the borrowers pre qualification and probably wouldn't have much cash after down payment and closing costs . Buyer would like an inspection but has agreed that no concessions will be made as a result of said inspection.2) buyer is from other side of state and only saw the property through their agent via FaceTime, agent is a newer agent.. conventional w/30% down through a mortgage brokerage company from around where thr buyer lives. Buyer has bank statement with plenty of cash on hand. Buyer has agreed to waive inspection.[link] [comments]  |
| How do I get a generic pre-approval letter that I can send to sellers so they know I'm serious. Posted: 29 Nov 2020 02:56 AM PST Im a very well qualified buyer. I'm prepared to pay cash up to around $300k. I dont want to work with a real estate agent. These parasites have already run my credit twice and I've been pre-approved several times for several houses. I just want a generic letter stating that I'm pre-approved up to $400k or whatever it is. [link] [comments]  |
| Posted: 28 Nov 2020 06:55 PM PST Hello everyone, Im 2 weeks from closing and it's my understanding we don't pay the realtor anything? Most of that is handled through the seller and lender, they get a percentage? Where do I come in? I feel kind of weird being like "thanks! Bye!" The home we found was all thanks to her and her quick finding, her connections and her quick acting, and advice to write a letter to the seller. I am beyond grateful to her especially in such a crazy market, how do I thank my realtor? I'm a first generation child, first time home buyer so I'm clueless about what is etiquette. Please advice, thank you. [link] [comments]  |
| Posted: 28 Nov 2020 09:44 PM PST You still get the 10k, right? I re-read my contract and it seems...unclear, but that was my assumption during negotiations. [link] [comments]  |
| Is there a website that groups all the real estate agencies ranked by City or Town ? (NY) Posted: 29 Nov 2020 12:44 AM PST |
| Is the housing market so insane right now because of the low interest rates? Posted: 28 Nov 2020 08:17 PM PST I feel like most of the people buying houses now are not going to be able to afford them and in 2-5 years time we will have another housing bubble pop. Why is the fed keeping interest rates so low? [link] [comments]  |
| Should Friends buy a House Together? Posted: 28 Nov 2020 11:37 PM PST So me and a couple of my friends, 5 to be exact (there could be more but we're still figuring it out), are thinking about buying a home. We've established most basic things but I'm still worried on how this whole entire thing will go down in the future. I know that eventually most of us will move on and decide to eventually move out but then what happens to the house? Will one of us end up keeping it, will we rent it out to other people, sell it again? I'm just worried it may cause some sort of issue. If someone where to keep the house they'd have to pay back all the other people. Or if we end up selling it, we'd have to divide the money we got from selling the house between all of us. It's a lot. Now I'm just wondering is buying a home is a smart move or not. Should we just rent a home/apartment? Sorry if this doesn't make any sense, we're all pretty new to real estate and what not. We appreciate any feedback! [link] [comments]  |
| Landlord as a tenant lease contract help Posted: 28 Nov 2020 04:34 PM PST So I purchased the house that I've been renting for a few years as a tenant with my friends in Texas. Soon I will need to have them sign a new rental agreement for the next year. I am both the landlord as well as one of the tenants at this home. Because of this relatively unique situation, I have had a hard time finding an example of a rental agreement that would work for me as both landlord and a tenant. Is there a good example available that I could utilize for my purposes to develop a rental contract with me as landlord and tenant that I could use as a template or pull from to develop my own? [link] [comments]  |
| Posted: 28 Nov 2020 08:29 AM PST Howdy, The backstory is that I own 2 acres in rural California. A new neighbor moved in and where our properties connect, they put a small trailer that is on both property lines. I let her know about this, and she subsequently pulled the court papers showing that is in fact my property. She has offered to buy this piece of land. I do not want want to sell. I also told her I don't mind if she keeps the trailer on this portion of land (while I own it). My fear is that through some common law she may be able to take my portion of land?? Am I forced to either a. Evict or b. Sell? Thanks. [link] [comments]  |
| First time buyer - vacation home Posted: 28 Nov 2020 08:17 PM PST Hi there - looking for challenges to my way of thinking Based in NYC, wife and I both earn good money and have one kid with another on the way. We are looking to purchase our first home together (I own property in the UK but nothing in the US). Return to work is still unclear (both downtown nyc). We are seriously considering purchasing a lake house outside of NYC with the reason being that it would make a good home for us over the next 12-18 months until we know more on our work situation. This would also provide the opportunity to have a vacation home as our primary residence until we need to head back to the city or potentially commute from there. This helps prevent us wasting money on rent, but also gives us a future potential passive income in the form of letting or Airbnb (I think it would be perfect for weekend getaways). Our story is complicated but I see this as a good option to keep flexibility without spending serious money on a forever primary home, especially in this over inflated market. [link] [comments]  |
| Posted: 28 Nov 2020 08:04 AM PST I am a second home buyer. Currently selling my first. I am using a va loan to purchase a manufactured home and 1 acre of land for around 210k total is what I'm financing. The home is a 2000 model and already on the property. Its been there since it was built.The company I'm going through is giving me an interest rate of 3.15% for 30 yr. My credit score is around 777. Is this a good rate ? What kind of things should I look out for in the paperwork as far as fees or things to know ? Just looking for opinions and advice. [link] [comments]  |
| Repairs and remodeling prior to home sale Posted: 28 Nov 2020 07:15 PM PST I was wondering where would be the best place to go to find someone that can take care of a lot of issues prior to a home sale and what would be worth having remodeled. I will probably need to refinish the hardwood downstairs and replace carpet upstairs certainly. The kitchen and bathrooms are pretty dated (linoleum for bathroom floors, countertops for the kitchen that are equivalent to linoleum). I just don't want to spend a lot of money if I won't recoup the costs. I have considered refinishing the cabinets in the bathrooms and kitchen. Any advice would be great. I'm a block from the bay in what seems to be a pretty up and coming area. [link] [comments]  |
| Getting cold feet....Can I still back out? Posted: 28 Nov 2020 07:07 PM PST First time home buyer (Illinois) - Signed the executed real estate contract (both parties) on Wednesday 11/25. Haven't put down any earnest money yet. Closing is scheduled for Beginning of January. Starting to get cold feet - Am I still able to back out of this thing? If so, how long do I have? Any penalties? Having a mini-panic attack - Can someone please tell me I can take a deep breath? Thanks [link] [comments]  |
| Need advice on selling mother's home Posted: 28 Nov 2020 06:20 PM PST Background: My mother lives by herself in a 4 bedroom/2.5 bathroom home that she owns (mortgages). She is in poor health and rapidly headed towards not being able to care for herself. I need to help her sell her house and get her in an environment more suited to her needs. And it needs to happen fast. The House: Structurally the home is fine. The interior of the home is not in good condition. It smells BAD, kitchen needs complete renovation, basement is half finished, carpets all need replacement, doors need replacement. I would be embarrassed to bring anyone into the house, never mind try to convince someone to buy it. She, nor I, are able to front the cash to remedy the issues prior to selling. However, I assume for the right price there would be someone willing to buy it. Financials:
Questions:
[link] [comments]  |
| Posted: 28 Nov 2020 06:19 PM PST We signed a listing contract that has a listing period of 180 days from September this year. We couldn't sell the house for the price we wanted and decided to pull the listing off for the holidays. Now a couple of new options popped up after the listing is canceled.
Given the MLS listing is canceled, and the house is off market, can we proceed with either 1 or 2 without any penalty or commission paid to the current agent? [link] [comments]  |
| Posted: 28 Nov 2020 06:18 PM PST We signed a listing contract that has a listing period of 180 days from September this year. We couldn't sell the house for the price we wanted and decided to pull the listing off for the holidays. Now a couple of new options popped up after the listing is canceled.
Given the MLS listing is canceled, and the house is off market, can we proceed with either 1 or 2 without any penalty or commission paid to the current agent? [link] [comments]  |
| Question about qualifying income on a Schedule C Posted: 28 Nov 2020 06:15 PM PST Say I sold a house that pulled $48K in rent a year and bought another six months later that also pulled $48K. A loan officer told me that neither would be qualifying income if it was filed on Schedule E. The first house is no longer owned, and the second would not have been a source of income for two years. Two questions: Is this a legitimate statement, and would refiling everything as a property management company with a Schedule C affect anything if it is? [link] [comments]  |
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